By Olatunde Dodondawa
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said the proposed Petroleum Industry Bill would ensure that the abundant natural gas resource is used to promote national development.
While delivering his ministerial address, Chief Sylva said the global COVID-19 pandemic has made indigenous participation in the oil and gas value chain an imperative.
“The proposed PIB will further encourage participation of Nigerians in the various oil and gas activities. Our declaration of 2020 as Year of Gas is now being pursued through the Natural Gas Expansion Programme to deepen Gas penetration and avail Nigerians options for alternative fuels and cleaner environment.
“As experts, the onus ultimately rests on you to take on the challenges and opportunities the industry and pandemic has created. As we fastrack our race to cleaner energy through gas, cognisant of the development in other climes, this is a wake-up call for Nigeria to increase efforts and reduce her dependence on Oil. Therefore, we must re-jig our petroleum industry and energy framework in order to chart a new course.
“On our part, all efforts are being made to sustain the current relative peace in the Niger Delta for sustained investment. The proposed PIB takes care of the foregoing to put Nigeria amongst the league of investment havens. It is therefore our belief that the future is bright and attractive for the Nigerian petroleum industry,” he said.
He added that in collaboration with stakeholders, the Ministry, under his watch, would promote domestic utilization of gas resources so as to create job opportunities for Nigerians.
The Minister also stated that the Natural Gas Expansion Project (NGEP), as panacea to energy stability, has led to the review of existing policies, legal and regulatory frameworks and commercial instruments that hindered the development of the local gas sector are being reviewed.
“Reforming and implementing the promotion of a market structure in a manner that will ensure the utilization of gas infrastructure, assets and facilities on a common carrier and co-sharing basis is our cardinal objective. Strategies that will promote cost effective distribution of the various gas streams by marine, rail and road for achieving a most affordable, available, acceptable and accessible gas to Nigerians are being formulated.”
He said with the involvement of other stakeholders, government is considering deepening domestic Liquified Petroleum Gas (LPG) penetration, Auto-Gas (LPG, CNG & LNG) for automobiles and other prime movers, CNG for electricity and gas based industries revitalization
“Substituting traditional white products with Gas will cushion the effects of deregulation, foster human capital development through new investments and create enormous job opportunities for Nigerians,” he said.
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